Qiagen: Novo and Roche Could Drive The Shares Towards $45

Qiagen quoted on the US Nasdaq, but a Dutch company, is a provider of testing technologies used in pharma research and has a $7bn market cap. It is said to be in the sights of a fellow European company – Novo Nordisk. Novo is apparently looking to buy a 25% stake in Qiagen, or would alternatively go for a fully fledged bid. It has been advised that obtaining a stake is not going to be easy, as big institutions are keen to stick to their holdings.

A full deal could fetch $45, especially given talk that Roche may also be interested. Citibank is said to be the advisor on the deal. Looking at the daily chart of Qiagen, recent support above $30 implies that it would be surprising if there were not a return towards the $35 zone year highs, however the alleged M&A angle plays out.

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